Ghana’s power sector is facing renewed pressure as Early Power has threatened to halt electricity supply due to the Electricity Company of Ghana’s (ECG) failure to settle an outstanding debt of $48,215,405.89.
In a letter to the Acting Managing Director of ECG on Friday, February 28, 2025, Early Power expressed concern over ECG’s default, revealing that $47,249,898.93 of the amount was overdue.
The letter, also copied to the Minister for Finance, the Minister for Energy, the Executive Secretary of the Public Utilities Regulatory Commission (PURC), and the Board Chairman, warned of severe financial repercussions.
“As a result of ECG’s default in payment, the Seller finds itself in a precarious financial position and will not be able to meet its debt service obligations and operating costs,” the company stated.
Early Power has demanded immediate payment of the overdue amount, setting a deadline of February 28, 2025.
The company warned that failure to meet this deadline would force them to invoke remedies under the Power Purchase Agreement (PPA) and the Power Compact Operations Agreement (PCOA).
ALSO READ: